The WSJ reports:
There were approximately 53,000 more millionaire households in the U.S. last year than in 2012, according to Phoenix, a market research firm based in Rhinebeck, N.Y. About 6.15 million millionaire households are spread across the U.S., according to the report. That means 1 in every 20 households in the U.S. has more than $1 million in investable assets. Those figures don’t include the value of real estate…
The top of the overall rankings didn’t change much. Maryland was No. 1 for the third consecutive year, with 7.7% of households holding more than $1 million in assets. New Jersey, Connecticut and Hawaii followed. Those four states, in various orders, have led the rankings every year since 2006.
The largest jump in millionaires was in North Dakota.
This means a growing number of households are doing better, saving, investing and growing their wealth. Of course, this also means many of the households will spend more, be in better shape come retirement and likely donate more to charity along the way. All good stuff is it not? Add in the value of real estate and the number millionaire households is even higher … more good news. 😋
Now I suspect that somewhere out there a progressive is reading this and seeing more inequality, more room for higher taxes and some convoluted idea of unfairness. Forget it my friend, this is success, this is doing the right thing for one’s self, the family and yes for the country too. And not to worry, all the rest of America will get its share in taxes. After all, the estate tax is still there to grab a big chunk of the fruits of their labor taxing the same money for the third or fourth time.